mkt421 final
TRANSCRIPT
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Running head: FINAL MARKETING PLAN 1
Final Marketing Plan
Rose Braggs, Vicki Gould, Carrie Preisinger, Niqua Wilbon
MKT 421
September 30, 2013
Doug Schwartz
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FINAL MARKETING PLAN 2
Final Marketing Plan
Introduction
A final marketing plan is part of an overall business plan; moreover, aneffective
marketing strategy is the foundation of a well-written marketing plan according to an online
research. To ensure the effectiveness of the plan, a solid strategic base is required. For example,
without proper planning, the chances of developing a strong plan are less likely to (Rubinson, J.,
2009) point out that In terms of specific marketing objectives, the evidence suggests that the
impact of TV on sales lift appears to operate primarily by generating brand awareness,
suggesting that an effectivemarketingplan that uses TV should do so in conjunction with
multiple forms of marketing in order to impact all stages of the consumer purchase process (p.
20). This paper is aimed to describe the necessary process to develop a final marketing plan for
Team C new product, the White Chocolate Delight.
Phase I
A Description of the New Product or Service
With individuals moving towards eating healthy and losing weight Nestle decided to
manufacture a snack bar to compete with companies such as SlimFast and Weight Watchers. The
initial snack bar will be a Cherry Cheesecake with White Chocolate. The ingredients will consist
of low-fat cream cheese, low-fat sour cream, low-fat milk, fat-free small curd cottage cheese, fat-
free cream cheese, granulated sugar, grated lemon peel and fresh lemon juice, egg substitute,
cherries, and white chocolate. This new bar will contain 20-25 mg of protein to give the
individual the feeling of being full longer and provide energy for several hours. The bar will
contain only about 10 grams of sugar so that it is healthier for the consumer. Other ingredients
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FINAL MARKETING PLAN 3
the bar will contain will be vitamins B6, B12, C, and E. Other nutritional values the bar will
contain are iron, calcium, copper, chromium, phosphorous, and magnesium. These ingredients
will ensure a great taste, a low calorie count, and nutritional values for those individuals who
want to stay healthy but also be able to enjoy a sweet snack occasionally. This new product will
help Nestle to enter into the market of healthy products and open new doors for other new
products as well.
Importance of Marketing
Marketing is important to the success of a business because it produces the sales
and leads to happy customers. If done correctly the marketing for Nestls new protein bar will
help them to get a foot in on a new line for the company. Since production and distribution relies
heavily on marketing the marketing staff must determine which target group they want to
achieve. With the new line of protein bars Nestle will be targeting the more health centered
groups and those who are overweight and want to change. Marketing will target the needs of
these groups to ensure they return again and again. Once a target group is acquired the marketing
team searches for was to keep them happy whether it be adding new products to the line or
keeping the cost in a range where the product is achievable.
The company must use as many avenues that are available to get the word out to the consumer of
the new line of products it is coming out with. In previous years this consisted of the television,
radio, and newspapers. With the new technology that is available such as the internet another
billion or so individuals are able to be reached and informed.
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FINAL MARKETING PLAN 4
S.W.O.T Analysis
When organizations consider introducing new products to the market, an SWOT analysis is the
best way to identify how the new product will hold up against competitors in today's business society. If
Nestle considers creating a new healthy chocolate bar (cherry cheesecake), they would have to weigh the
advantages and disadvantages per organizations that already sell nutritional supplemental bars, such as
Special K, BOOST, SlimFast, and Weight Watchers. A strength Nestles new health bar would create
would be an increase in customers, coverage, and sales. With the new health bar, Nestle would be
opening up its company to new competitive advantages outside of co-selling its health bar with BOOST.
So the obvious weakness would be if BOOST feels as if Nestle is attempting to sabotage their current
product with them and the companies clash. Making decisions would become considerable harder
because the company would have to take another company's ideas into consideration.
Nestle would have an amplified growth opportunity economically and organization efficiency for
product execution, especially if the product is marketed well. When introducing new products to the
market through direct marketing instead of with another company, financial investment costs are reduced
because discounts are greater the larger the purchase amount. This also allows the opportunity for interest
rate offers to become lower. Nestle will have an opportunity to learn from other nutritional competitors
and grow producing more jobs for those who seek employment. Therefore, the weaknesses become
obvious. What if BOOST finds an ample amount of disagreeable entities that cause conflict since they
already advertise a healthy bar through Nestle, working together to come to a common ground on how to
handle specific situations as they arise can often become a difficult, and, in some cases, an irresolvable
task.
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FINAL MARKETING PLAN 5
Marketing Research Approach
The marketing research approach used to develop the marketing strategy and tactics for
this new product is finding the market. For example, will conduct research to better determine
what market that poses fewer competitors; in addition, will find several large and fast growing
markets and evaluate them over the past few years to see how they did when times were good
and in bad times.Next, the targeted markets should be assessed to show the consumption and
production of the product. Determine what factors that could affect the market. For example,
how will the product be distributed or what is the business practice.Make sure that the price of
the product is competitive after all the expense has been factored in such as packaging, shipping,
commissions, taxes, etc.
Phase II
Identify the Segmentation Criteria that will affect Your Target Market Selection.
According to an online research, Market segmentationis a marketing strategy that
involves dividing a broad target market into subsets of consumers, who have common needs, and
then designing and implementing strategies to target their needs. Cano, L., Morejn, V., &
Sandoval, E. (2013), mentions that Every time the markets are more fragmented and market
segmentation has a role in marketing strategies, is a tool that brings together both individuals and
organizations, help to define more precisely the needs and desires of customers, to take
decisions, to define more precisely the objectives of marketing and to allocate resources.
Market segments tool help companies to create different product strategies to put on each one of
them. The following criteria will affect the target market selection; more important, the market
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FINAL MARKETING PLAN 6
segments must be considered to effectively develop a strategic marketing plan for the new
product according to wikipedia.org/wiki/Market_segmentation
It is possible to measure. It must be large enough to earn profit. It must be stable enough that it does not vanish after some time. It is possible to reach potential customers via the organization's promotion and
distribution channel.
It is internally homogeneous (potential customers in the same segment prefer the sameproduct qualities).
It is externally heterogeneous, that is, potential customers from different segments havedifferent quality preferences.
It responds consistently to a given market stimulus. It can be reached by market intervention in a cost-effective manner. It is useful in deciding on the marketing mix.
Identify your Target Market.
Organizations that use sales tactics and promotions to attract the attention of certain
group demographics of people are targeting their market. These are the potential customers that
are expected to have a specified need or want for the product or service advertised. Introducing a
new nutritional health chocolate bar to the nestle brand will open the market up to those who
work out daily, weight losers, and health fanatics who just want to spice up their diet. To be
more specific, the market we want to target would be middle aged, working class, family
oriented adults who are either over weight, watching their weight, or keeping healthy with good
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FINAL MARKETING PLAN 7
snack choices in between meals. Targeting this group dynamic will ensure the stability of profit
gain. Middle-aged adults are able to make educated life choices outside of parental guidance
with the ability to sustain them. Working class adults tend to be consistent buyers of products
they need or want in their life. Family oriented adults attempt, more often than not, to make
wise choices for their families when it comes to food consumption. Therefore, this demographic
of consumers will be where Nestle will place its efforts towards merchandise purchase.
Organizational Buyers
There are two categories that exist, the buyers market and consumers market. The
business market consists of items for sale for production or resale to individuals for a profit. The
consumers market consists of items for purchase for private use. Cultural, social, personal and
psychological are the main four types of behaviors that influence consumers to make purchases.
Team C has a marketing strategy that will utilize the content marketing strategy. Our strategy
will allow the showcase why consumers will want to purchase the chocolate cherry cheesecake
bar that Nestle offers. We are aiming to mass produce our market the business market in which
can be sold in stores or grocery chains. We also want to influence consumers to purchase our
product as they have heard about it with effective marketing strategies within the radio,
television commercials, and advertising.
Content marketing is a marketing technique of creating and distributing relevant and
valuable content to attract, acquire, and engage a clearly defined and understood target audience
with the objective of driving profitable customer action. According to "WhatIs Content
Marketing" (2013)
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FINAL MARKETING PLAN 8
We are planning on enticing the consumers behavior with an ongoing process of
valuable content focusing on media. Team C will establish challenging goals in which will use
the marketing mix to allocate funds which will be used for during our marketing strategy. With
our plan we are delivering intelligent communication to consumers in a way they will want to
listen. We also would like to market our products in specialty stores that allow for sampling. This
way when consumers are able to try something it allows their taste buds to decide this is
something worth spending their money on. Marketing is getting out in the field and putting your
product out there so people know the name and what the product looks like. Content marketing
will allow Team C embrace the ideas through the media.
Current Competitors and the Competitive Landscape
Entering into this new line of products Nestle will need to research companies which are
in the same line of business to see what type of merchandising, pricing, and the environment they
will be interested in continuing forward. The marketing team for Nestle will have to analyze the
competitors to get the appropriate information for the company to carry forward. The analysis
will tell Nestle how the competitors will react to having another competitor as well as showing
their strengths and weaknesses. The current competitors for the new Nestle protein bar would be
companies such as SlimFast, Special K, and Nature Valley. The new White Cherry Delight will
be closely in competition with Special K and Nature Valleys bars as it will bring the fruit aspect
of the product into focus. However it will throw into the mix the sweetness of the cheesecake for
those who want more of a snack bar that is healthier than other bars.
As with any new product, Nestle will find many barriers they must face before
they can fully call the launch a success. One of these barriers is the financial strain that the
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FINAL MARKETING PLAN 9
economy is in. Nestle must appeal to the target group that is more healthy conscientious to
establish a customer base. They must also look to those who want to be healthy so bring in
another group that may stay with them through their journey of losing weight.
Another barrier that Nestle will have to combat is the overwhelming number of protein
bars that are already on the market. Nestle must find new ways of advertising the new protein
bar so to attract the consumer from their competition. Advertising and promotions is a couple of
ways in which this can be done. The company believes that having the Nestle name on the
product will help this process as they are well known for their chocolate which will give them
the upper hand on taste.
The Attributes
The Nestle White Cherry Delight bar has several attributes that encourages consumers to
buy it. First, the new product made with some of the finest organic ingredients which add high
nutritional value. For example, soy milk is one ingredient used that contains D and A vitamins;
more important, one bar offers a full daily allowance of those vitamins. Another attribute is, the
bar is 2 ounces in weight as some consumers are concerned with exact measurements when
planning their meals.
The new cheesecake bar is created to enjoy as a candy bar, snack bar, or desert while the
nutritional value remains the same. The new created cheesecake bar is individually wrapped and
package in a box of 6 which make it convenient for serving; in addition to making an excellent
part of for children school lunches or perfect for a quick snack at work, the bars may also be sold
separately. So, when consumers have a taste for white chocolate or cheesecake, they now can
enjoy NestlsWhite Cherry Delight; moreover, they will know that it is delicious and nutritious.
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FINAL MARKETING PLAN 10
Product Life Cycle
The product life cycle has four sections; introduction, growth, maturity and decline all of
which can affect our product. In the introduction phase we want to make sure to highly promote
the NestlsWhite Cherry Delight bar. The introduction phase typically lasts a week to three
weeks. If the public arent aware of our product then it may not be successful as they wont
know about it. We would use the skimming strategy in which we have lower prices in the
beginning and we would gradually raise the cost. The skimming strategy would be beneficial as
there are several competitors who are constantly offering new sweet products, and Nestle isnt
interested in the profit but getting the products name out in the market.
The growth stage is where we see our product mature and grow. At this point we would
be concentrating on marketing and advertising our White Cherry Delight bar. Nestle has several
competitors, we would need to explain why our product is not only healthy but delicious
compared to the other products on the market. Team C would put a bulk of our advertising funds
into television, radio and magazine ads to have consumers purchase our product. We would want
to utilize the growth stage for one to two months. At this point in the life cycle we should be
aware if our product is leaving the shelves, if it is then we would be raising the price to start
bringing in a profit.
During the maturity phase our sales should have grown very fast and then stabilized. We
must stay on top of advertising and getting our products name out in the industry so consumers
are willing to purchase it. Team C cant afford to lose all of our hard work so we must
differentiate our product from the others on the market, allowing consumers options but also
enticing them with the nutritional elements. Understanding our product and how the life cycle
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FINAL MARKETING PLAN 11
works we would want to hold onto the maturity phase as long as possible with that being three to
six months, but if the sales are declining then we would quickly move on the final phase.
The final phase is where our products sales have started to decline. They decline due to
the consumers looking for a new innovative product or everyone has already purchase our
product. To make sure and not lose any profits we would want to pull the product as soon as a
decline is noticed, having stopped all advertising, promotions and sales within two weeks.
Positioning and Differentiation Strategies
According to Perreault, Cannon, & McCarthy Basic Marketing: A Marketing Strategy
Planning Approach, Positioning refers to how customers think about proposed or present brands
in a market and Differentiating the marketing mix to do a better job meeting customers need,
the firm builds a competitive advantage (2011, p. 110). If Nestles management wants to keep
up with competition and customer satisfaction, one key effort would be to consider positioning
and differentiation strategies for the new White Cherry Delight Nutritional Bar. Positioning
Nestles chocolate bar would mean setting the bar up to have certain attributes and ingredients
that consist of fewer calories than the others on the current market. This product would have to
appeal to health fanatics and those who are dieting that would seek out healthy and tasteful
snacks. Differentiating Nestles chocolate bar would mean offering a delicious nutritional
product at a lower price with the same, if not better, quality than the competition. This product
needs to be set alongside all other nutritional health bars with distinct and attractive packaging
that upholds the Nestle brand. Nestle, itself, is known for quality products, so people will be
drawn to their new bar automatically. When marketing the chocolate bar to the public, Nestle
should offer an incentive with the product, such as a well-known shake to pair with it as a two
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FINAL MARKETING PLAN 12
for one deal. This will entice customers to purchase the bar because they already are buyers of
the shake.
Appropriate Price Strategy
One of the most difficult and important aspects of developing a new product is deciding
how much to charge for the product. The price that is put on the product will support the
production and delivery of the product. Pricing it too high or too low could mean the loss of
sales. There are several pricing strategies that Nestle can use to determine the price of the new
protein bar. They are penetration pricing, optional pricing, premium pricing, value pricing, value
pricing, bundle pricing, and skimming pricing. The pricing strategy that will best fit Nestle will
be the value pricing strategy. In this strategy Nestle will compare the value of what the protein
bar offers the consumer compared to that of its competitors. Then they will determine if they
want to price the new protein bar lower, the same, or a little higher than that of its competitors.
Another option that would be beneficial is the penetration pricing strategy which can be
used in the beginning to get the attention of the consumer. According to Marketing Teacher this
is when the price charged for products and services is set artificially low in order to gain market
share. Once this is achieved, the price is increased. To keep in competition with the competitors
the price would then be set at a price that would ensure profit and keep the consumer buying
their protein bar as well.
Launching a new product is never an easy task and just because your company or brand is
well-known does not mean others will automatically buy into it. Strategically planning how well
the product should be marketed takes careful thought as to how management should convey the
product details and services, pricing details and setting the product apart from the competition,
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Online research defines sales promotions as initiatives that an organization decides to
implement, to promote andincrease sales,product usage or to shine a light on a new product or
service. For example, the development of this sales promotion schedule is to bring focus on
the White Chocolate Delight bar created by Team C. Guidelines for the initial schedule have
been established for the promotion.
First, the marketing manager has set detailed objectives as a guide throughout the
promotional campaign. Knowing the objectives will aid in determining what type of advertising
may be the most effective. The course text mentions three basic types of product advertising
such as pioneering, competitive (direct and indirect), and reminder. For the new product, the
competitive type of advertising will be used. This determination was made because Quaker has a
product that is slightly similar to the White Chocolate Delight bar. Also, the internet offers
different ways to advertise so a specific one had to be chosen to help in the success of the
campaign.
A timeline is set for November 3, 2014, for the initial sales promotion schedule to launch.
This date provided enough time for Team C to put the promotion together and develop an
effective advertising plan. A budget for the initial sales promotion schedule was established
which included costs for developing the advertising plan, creating collateral materials and
advertisements; moreover, funds for buying time (television or radio) and placing ads with the
media outlets. For example, funds are allocated in the budget to place ads the Sunday papers if
desired. However, many consumers purchase the paper to take advantage of the manufacture
coupons; thus, the ad will reach a plethora of readers.
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FINAL MARKETING PLAN 15
The markets to be targeted during initial promotion are residential because the new
product may be enjoyed by the household adults as well as the children. According to the
(2004), Journal of Business & Finance Librarianship, In the marketing mix established by the
"Four Ps of Marketing (product, price, place, promotion), sales relates both to Place (the how and
where of the physical distribution of goods, expressed in terms of wholesale and retail) and to
Promotion (sales incentives and promotions, trade shows) (p. 205). There is flexibility in the
schedule just in case the ad does better in the papers than on the radio or vice versa. For
example, whichever source is most effective; the ad may be pulled for the other.
An advertising plan was developed with a focus on messaging and branding. A
recommendation for an online source is to write copy, graphically design print and web ads and
produce video commercials. In addition to having the option to create the entire plan at once or
develop and unveil the plan step-by-step provides a sense of ease which reduces stress.
Team C will launch advertising plan according to the initial sales promotion schedule timeline.
A tracking system will be use to help determine how solid advertising plan is. Collected data
will be used to revise the plan if need be because the message is intended to reach the target
consumers in a clear, concise, and complete fashion. Kornman, H. (2004), mentions that
Growth depends on continued planning: preparing and regularly revising sales forecasts,
committing to a clear editorial schedule for 18 months out--ensuring a steady product stream to
market--and of course, having a reasonable promotionbudget (p.24).
Create an Advertising Plan
When creating an advertising plan for the White Cherry Delight nutritional bar for Nestle,
marketing managers must consider many factors of the type of consumer its targeting. The
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FINAL MARKETING PLAN 16
target market should include young adult to upper middle aged workers who value a great
nutritional snack at a reasonable price. Nestle also want to attract athletes and physical trainers
with their advertising campaign. To do so, first the new White Cherry Delight must have
packaging that stands out among the rest of the health bars on the shelf of all of the major
grocery stores, such as Jewels, Wal-Mart Supercenters, Dominicks, Meijers, and GNC. These
stores will offer the product along with an already well known shake thats has a coupon for a
percentage off the next buy of the White Cherry Delight on its own. The new bar will be
advertised in the online and weekly sales ads and deals of the week catalogs outside of the in-
store advertising ideas. Inside the stores will be Nestle representatives dressed in formal work
out attire offering samples of the bar to shoppers who are potential buyers. The new White
Cherry Delight bar will be placed on end caps of store shelves with signage detailing interesting
facts about the product with a sales promotion as well. Advertising new products inside the store
is always less cost wise than advertising outside of the store. Therefore majority of the products
introduction will take place at various store locations. Visibility of the product is key because
customers do not know about the product, so a Push advertising strategy is necessary to draw the
buyers to the White Cherry Delight. Being inside the stores interacting with the customers doing
presentations of the item along with a small bite and signage will increase the possibility of
consumer enticement and retention of those who have fallen back from purchasing Nestle health
products.
Public Relations Opportunities
Public Relations opportunities always arise when new products hit the scene for any
brands marketing department. This give the company a reason have business parties with focus
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FINAL MARKETING PLAN 17
on the new products launch and media based informationals that highlight the new and upcoming
business goal. Conducting business parties gives Nestle the chance to gain real feedback from a
relaxed crowd of colleagues and outsiders who will become potential buyers and/or suppliers of
the new White Cherry Delight. This also gives Nestle the opportunity to keep their name out
there and talked about in a positive way via word or mouth. At these parties the product would
be displayed at is best enticing the eyes of all in attendance and drawing small and large business
owners in to schedule meetings with marketing managers to discuss selling the product in their
stores. The new White Cherry Delight also gives Nestle the opportunity to do press releases,
articles, speaking seminars and conferences. Nestle will have a chance to freshen up its branding
approach and retarget its original customers appeal to a new product for them to purchase.
Online media will also be an opportunity for Nestles marketers to gain feedback and interact
with online consumers on a personal level. This will, in turn, give the business more ideas or
innovative ways to either add to the product, change the product, or leave it as is to increase sales
and satisfy customers. New product launches always give businesses an opportunity to relate to
the public and resurface with a boom.
Channel Management Decisions
The use of channel management decisions is one of the biggest trends that business use at
this time. These strategies are more complicated than most think because they deal with essential
processes that are vital to the success of a channel. They are the most decisions that managers
have to make because the influence all other decisions in the channel. There are six fundamental
distribution decisions.
1. Determining the role of distribution in the companys overall goals and strategies.
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FINAL MARKETING PLAN 18
2. Discerning the role of distribution in the marketing mix.3.
Knowing how marketing channels should be designed to effectively achieve
distribution objectives.
4. Identifying the type of channel members to be selected to meet distribution objectives.5. Establishing how to manage the channel to effectively and efficiently implement the
channel design.
6. Finalizing how every partners performance will be evaluated(Maria Lopez, 2013).Making channel design decisions is the most comprehensive of the six strategies. Nestle
will use this to develop new marketing channels for the White Cherry Delight where none have
existed previously. They will also cover the modification of existing channels to fit their new
product. Through critical assessment and analysis the resulting decisions contribute to the
improvement of the marketing of the new product which leads to increased productivity and
greater profitability.
Appropriate Distribution Channels and Costs in Terms of Placement, Shipping, and
Middlemen
Place
Nestle White Cherry Delight will be manufactured in the Nestle plants but distributed to
stores across the world. As Nestle will have their products in various grocery and chain markets
there is no way to maintain the display for daily exposure. In the beginning we will pay a
premium price to specialty stores for the New White Cherry Delight Bar to have entrance
exposure, we will provide a cardboard case to keep our bars in securely. As our product is not a
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store brand Nestle will ensure that a fresh stock is available for delivery every two weeks,
delivering over 4 cases at a time.
Promotion
Nestle would like to target the organic health stores with consumers ranging in all ages
and base incomes from $35,000- $80,000. Within this range we will see anyone from young
adults, parents to health conscious middle aged consumers looking for a product that will satisfy
their sweet tooth while maintaining the appropriate calories and glycemic index they are
searching for. Our plan is to advertise within the local neighborhood. We would utilize the
television, radio, print, and outdoor media for advertising. Our advertising budget should be
anywhere from 5%-15% of our total budget to get consumers into the store wanting to purchase
our product. Because we are a new product we plan on spending 15% to get our name out there.
We would like to be successful in order to accomplish this we will produce brand awareness,
thus increasing sales. The best way to check to see if our advertising was a success is to
determine if our sales goals were met during the fiscal year. To meet our sales goals we must
stay current with circulation and the latest ratings to ensure our advertisements are reaching our
demographics.
We plan on advertising through the radio, newspapers, television commercials, and
outdoor billboards. Within the radio we can describe the product and the target areas of
availability for purchase. With the print aspect of advertising such as newspapers and billboards
we would ensure to have a health conscious individual enjoying our product. In the newspaper
circulars providing a coupon for 25 cents off may help consumers try the new White Cherry
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Delight at a discounted price. With television commercials we could go more in depth of the
organic and nutrients added to make it a better option compared to our competition.
Public relations
Another route Nestle will take in public relations is online advertising. Our website will
always have coupons that the customers can print out and use in the store. We will have ads on
popular web services such as Facebook, Twitter, and Instagram. These are websites used by
most people on a regular basis and by advertising on them; it will be a definitive way to get the
new service advertised.
To continue a good name for the company, Nestle will sponsor 5k events in local cities providing
free samples. These events will be advertising and good public relations mixed together. The
advantage of sponsoring events, especially in the case of a grocery store, is that we can supply
our own products to advertise/sponsor the event.
Budget
Nestle has been in the candy industry for over 140 years, deciding just recently to expand their
organic healthy chocolate options. Consumers are well aware of Nestles brands such as the
Crunch bar, Butterfinger, Baby Ruth and Power Bars. Due to the fact Nestle is globally known
for candy and other products, setting up a proper distribution channel was quite easy. The White
Cherry Delight bar will be manufactured in the Nestle Switzerland plant where the chocolate
industry has thrived for numerous years. Our initial costs consist of labor, supplies, products, and
location will 13584.00 Swiss Franc or $15,000 US dollars. We will work with the current
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vendors Switzerland offers in order to obtain our products, if needed we can outsource if the new
products needed are less expensive. The White Cherry Delight will be a successful attribute to
the Nestle family as it brings a new organic, healthy choice consumers have been searching for.
Quantifiable Elements
The marketing plan of a new product is a crucial part of getting the product out to the
consumer, without evaluation and monitoring the plan can become an expensive waste of time
and finances. The most successful marketing plans are always changing to meet the needs of the
customers and reacting to the competitors strategies. By establishing goals Nestle can analyze
the quantifiable elements to evaluate, monitor, and control the marketing plan. Putting
quantifiable goals into place that must be met in a certain time frame gives Nestle context in
which to know if the marketing campaigns are giving enough lead or sales. Using these results
Nestle can decide if the marketing plan should be adjusted or not.
The first and easiest way to measure if the marketing plan is successful is to track the
profits of the product. Tracking the profits before the launch of the White Cherry Delight, during
the time the White Cherry Delight is in circulation, and the following six months Nestle will be
able to see the delayed response time and get the exact numbers that are needed.
Dollars Percentage Dollars Percentages Dollars Percentages
Sales 250,000.00$ 100% 275,000.00$ 100% 285,000.00$ 100Mfg & Distribution Costs 180,000.00$ 72% 86,000.00$ 31% 80,000.00$ 28.07
Gross Profit 70,000.00$ 28% 189,000.00$ 68.72% 205,000.00$ 71.93
Three Year ProjectionThe White Cherry Delight Bar
2014 2015 2016
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Installing a tracking code onto the Nestle website before the launch of the White Cherry
Delight will let Nestle know the number of visitors and follow the websites that they use. This
will let us track the number of people that are responding in specific areas and cities. This will
give us an idea on what areas we may need to concentrate on more.
Another element to analyze is the sales leads. The marketing team must monitor the
number of qualified leads that come in response to the marketing effort. They should also track
the unqualified leads as they may find that the marketing campaign is misleading the customers
and causing the wrong types to call with inquiries. By obtaining sales lead numbers the
marketing team can refine the campaign so that it reaches the target group that was wanted.
Audience responses are obtained through surveys. To get quantifiable results the surveys
must be designed by using yes or no questions and it should have a clear purpose. From these
results the marketing team will know if the product is what the consumer wants and the price is
right.
According to Small Business Chron there are seven steps to follow to analyzing the
elements. Step one is to set quantifiable goals for your marketing plan. Step two is to create new
marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing
plan. Step three is to review last year's sales records so you have something to which to compare
this year's sales. Step four is to set metrics for tracking the direct impact of each campaign on its
ability to help you reach your marketing goals. Common metrics include number of click-
through on an online ad, number of new sales, number of new leads or percent increase in traffic
to the store. Step five is to analyze the results of each campaign based on your metrics.
Determine whether the campaign brought in more profit than it cost to run.Step six is to
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determine how many more times you need to repeat them to meet your goals. Be flexible and
understand that sometimes you may need to run a campaign longer than you have in the past
because competition for customer attention is high and step seven is to repeat the goals until they
are all met.
Conclusion
With proper marketing and advertising the White Cherry Delight will be a product in
which will be a constant on stores shelves for many years. The best way for Nestle to determine
whether or not marketing is working is to look at the sales and the return on investment. Every
business tracks what they spend in marketing and what their total sales are. To determine if the
marketing is working, they need to determine the ratio between marketing and sales increases. A
good way to do this is to have a starting point; a certain amount of money in marketing equals a
certain amount of money in sales. After every tracking period, the company will do the same
thing and find whether marketing is increasing sales, staying the same or actually losing sales.
The theory here is that Nestle should see an increased return on investment when they increase
marketing. There is no point of increasing marketing if the sales increase is only equal to the
amount of money putting into the marketing because this does not give a larger profit
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References
Allen, Kristina(2013), How to identify the quantifiable elements to evaluate, monitor andcontrol your marketing plan retrieved from
http://smallbusiness.chron.com
Cano, L., Morejn, V., & Sandoval, E. (2013). Estudio de caso: Analisis De La Aplicacion De
La Segmentacion De Mercado Como Estrategia Para Las Pequenas Empresas. (Spanish).
Revista Internacional Administracin & Finanzas(RIAF), 6(5), 109-119.
http://en.wikipedia.org/wiki/Market_segmentation
History: Nestle Global. (2012). Retrieved from
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http://www.nestle.com
Kornman, H. (2004). The Foreign Publisher in the US Market.Publishing Research Quarterly,
20(3), 24-29
Lopez, Maria (2013), Making channel management decisions for your business retrieved from
http://articles.pubarticles.com
Marketing Research. (n.d.). Retrieved from
http://export.gov/mrktresearch/eg_main_018210.asp\
Marketing Teacher Ltd (2000-2013), Pricing strategies retrieved from
http://www.marketingteacher.com
Rubinson, J. (2009). Empirical Evidence of TV Advertising Effectiveness.Journal Of
Advertising Research, 49(2), 20-226.
Sales Management, Sales Promotion. (2004).Journal of Business & Finance Librarianship, 9(4),
205. doi:10.1300/J109v09n04_01
What is Content Marketing. (2013). Retrieved from
http://contentmarketinginstitute.com
http://en.wikipedia.org/wiki/Marketing_plan
http://www.ehow.com/about_6536021_sales-promotion-schedule_.html#ixzz2gK9Xilt1
http://www.nestle.com/aboutus/historyhttp://www.nestle.com/aboutus/historyhttp://export.gov/mrktresearch/eg_main_018210.asp/http://export.gov/mrktresearch/eg_main_018210.asp/http://contentmarketinginstitute.com/what-is-content-marketing/http://contentmarketinginstitute.com/what-is-content-marketing/http://contentmarketinginstitute.com/what-is-content-marketing/http://export.gov/mrktresearch/eg_main_018210.asp/http://www.nestle.com/aboutus/history -
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